KER.WAR Kernel Holding SA

Consumer Defensive Consumer Staples Distribution & Retail Warsaw Stock Exchange
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19.62 PLN
Close of Oct 29, 2026
18.64 22.60
Market cap
PLN 5.75B
P/E
4.9x
P/B
0.63x
ROE
14.1%
Dividend yield
-
Fundamental score
2.5/5

Ratios use the latest price and the fiscal year ending Jun 2026.

Is KER.WAR undervalued?

Graham number
Price19.62
Graham value52.97
Discount63.0%

KER.WAR trades 63.0% below its Graham number.

Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?

Kernel Holding SA fundamental analysis

14 of 22 checks passed

ROE 1/2

Moderate return on equity (14.1%), between 10% and 20%.

ROA 1/1

Return on assets (8.4%) is above the industry median (5.9%).

Profit Consistency 1/2

Profitable for 4 consecutive years.

Earnings Growth 5Y 0/1

Earnings per share did not grow over the past 5 years.

Earnings Acceleration 1/1

Last year's EPS growth (37.1%) is above the 5-year average (-28.8% a year).

Earnings Growth vs Industry 1/1

Last year's EPS growth (37.1%) is above the industry median (-3.2%).

Revenue Growth 1/2

Revenue grew 8.9% a year over the past 3 years.

Short-term Liquidity 1/1

Current assets cover short-term liabilities.

Long-term Liabilities 1/1

Current assets cover long-term liabilities.

Debt to Equity 1/2

Moderate debt to equity (46.9%), up to 100%.

Debt Trend 1/1

Debt to equity has not risen over the past 5 years.

Debt Coverage 0/1

Operating cash flow does not cover 20% of total debt.

Interest Coverage 0/1

EBIT is 2.8x against interest expense, below 5x.

PE vs Market 1/1

PE (4.9x) is below the market median (11.6x).

PE vs Industry 1/1

PE (4.9x) is below the industry median (16.5x).

PBV 1/1

Price to book (0.6x) is below the industry median (2.6x).

Graham Number 1/1

The price is below the Graham number (PE x PB = 3.1, limit 22.5).

PEG 0/1

PEG needs positive PE and positive 5-year earnings growth.

Dividend Yield 0/2

No dividend paid in the last reported year.

Dividend Stability 0/2

Dividends were not paid steadily for the past 5 years.

Dividend Growth 0/1

Dividends paid did not grow over the past 5 years.

Payout Ratio 0/1

No dividend, or no profit to pay it from.

Each check is worth 1 or 2 points by how much it says about the quality of the company. The score is the share of points earned, out of 5. Ask AI to explain this score

Kernel Holding SA stock price

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About Kernel Holding SA

Kernel Holding S.A., together with its subsidiaries, engages in the diversified vertically integrated agricultural business in Ukraine and internationally. The company operates through three segments: Oilseed Processing, Infrastructure and Trading, and Farming. It is involved in sunflower seed origination and sunflower oil production; sells bottled and bulk sunflower oil, and sunflower meal; produces electricity from sunflower musk; agricultural farming; production of corn, …

Full company profile